The number of active drilling rigs at work in Texas is stable around 436, slightly lower than last month's count, but significantly higher than last year, according to oilfield services firm Baker Hughes. Nationally, there are 913 rigs at work, up from 908 at this time last month. Overall, US crude production is steady around 9.5 million barrels/day, according to the Energy Information Agency.
Oil prices rose gradually throughout October as relief efforts from Hurricane Harvey continued. The price of West Texas Crude rose slightly to $52 and the price of Brent Crude also increased by a small margin to around $59 – evidence, producers say, that the global market for oil is steadying. Stable prices will likely lead to greater Texas drilling activity in the coming months.